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The simple concept of the people creating a bank.
With one dollar each we become a Black nation.
This is our foundation
OUR TIME HAS COME.
 ©
  
              Benefits to Community Banking
 
" Starting a bank sounds like an impossible Gilded Age enterprise; more befitting of a Rockefeller than today's small business owner. But it's not as impossible as one might think -- or as risky.
According to Smart Money.com, "the three-year failure rate for new banks is less than one in 1,000," which, compared with a "60 percent failure rate for new restaurants," is not so horrible. The profits are not too shabby either. The site reports: "6,770 community banks earned $67 billion over the past five years. ' ''
 
In a recent Wall Street Journal interview, even Former Federal Reserve Chairman Alan Greenspan says that he would start a bank -- if he were 50 years younger
 
  Richard Whitsell, president & CEO of Fresno First Bank, has started three community banks -- or as they call them in the industry, de novo banks (from the Latin for "new"). Whitsell used to work at Bank of America but, after a long career there, he needed a change.
 
"I wanted to] get closer to real banking, and making real decisions and having an impact on the community in which we live," Whitsell reflects.
 
Currently Whitsell has 22 employees. He sits on the same floor as the bank's transactions and enjoys having a direct impact on the community he resides in.
 
"We really do create an economic force in the communities that we serve," says Whitsell.
 
 
 
 
 
 
 
 
 
 
CORRECTION: A previous version of this story traced the etymology for "de novo" to the Italian, but it derives ultimately from Latin.   
 
There are 21 African American owned banks with assets totaling approximately $4.7 billion or approximately 0.43 percent of African America’s $1.1 trillion in buying power. In 1994, there were 54 African American owned banks according to the FDIC. Now, there are 21. Wake up Black people. If you don't put dollars in your own banks which are there to serve the unique needs of our community, who will?

ALAMERICA BANK
http://www.alamericabank.com/
Location: Birmingham, Alabama
Founded: January 28, 2000
FDIC Region: Atlanta
Assets: $35 404 000

BROADWAY FEDERAL BANK FSB
http://www.broadwayfederalbank.com/
Location: Los Angeles, California | Inglewood, CA
Founded: February 26, 1947
FDIC Region: San Francisco
Assets: $385 055 000

CAPITAL CITY BANK & TRUST COMPANY
http://www.capitolcitybank-atl.com/
Location: Atlanta, Georgia
Founded: October 3, 1994
FDIC Region: Atlanta
Assets: $294 572 000

CARVER STATE BANK
www.carverstatebank.com
Location: Savannah, Georgia
Founded: January 1, 1927
FDIC Region: Atlanta
Assets: $41 573 000

CITIZENS TRUST BANK
http://www.carverstatebank.com/
Location: Atlanta, Georgia
Founded: June 18, 1921
FDIC Region: Atlanta
Assets: $392 286 000

CITY NB OF NEW JERSEY
https://www.citynatbank.com/
Location: Newark, New Jersey
Founded: June 11, 1973
FDIC Region: New York
Assets: $340 301 000

COMMONWEALTH NATIONAL BANK
http://www.ecommonwealthbank.com/
Location: Mobile, Alabama
Founded: February 19, 1976
FDIC Region: Atlanta
Assets: $63 244 000

COVENANT BANK
http://covenant-bank.com/
Location: Chicago, Illinois
Founded: June 20, 1977
FDIC Region: Chicago
Assets: $59 842 000

FIRST INDEPENDENCE BANK
http://www.firstindependence.com/
Location: Detroit, Michigan
Founded: May 14, 1970
FDIC Region: Chicago
Assets: $215 924 000

FIRST STATE BANK
http://www.efirststatebank.com/
Location: Danville, Virginia
Founded: September 08, 1919
FDIC Region: Atlanta
Assets: $38 882 000

FIRST TUSKEGEE BANK
https://www.firsttuskegeebank.com/
Location:Tuskegee, Alabama
Founded: October 11, 1991
FDIC Region: Atlanta
Assets: $63 127 000

ST. LOUIS COMMUNITY CREDIT UNION (Formerly, GATEWAY BANK - St. Louis)
https://www.stlouiscommunity.com/
http://news.stlpublicradio.org/post/ten-percent-households-st-louis-area-dont-use-banks-heres-why-and-whats-being-done
http://www.stlamerican.com/business/local_business/article_11a0e98a-02a3-11e2-b53c-0019bb2963f4.html
http://www.stltoday.com/business/local/sba-loans-to-black-entrepreneurs-drop-dramatically/article_afd4254d-31d5-5abd-91f4-b6b810e14563.html

HIGHLAND COMMUNITY BANK
http://highlandcommunitybankchicago.com/index.php
Location: Chicago, Illinois
Founded: November 09, 1970
FDIC Region: Chicago
Assets: $84 948 000

ILLINOIS SERVICE FEDERAL SAVINGS & LOAN
http://www.isfbank.com/
Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $140 148 000

INDUSTRIAL BANK
http://www.industrial-bank.com/
Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $342 524 000

LIBERTY BANK & TRUST COMPANY
http://www.libertybank.net/
Liberty, one of the nation's largest African-American-owned banks, has 20 branches in four states, including locations in Mississippi and Texas. The Douglass National deal raises Liberty's asset base to $373 million. 
Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $545 019 000

MECHANICS & FARMERS BANK
https://www.mfbonline.com/main/index2.html
Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $304 809 000

NORTH MILWAUKEE STATE BANK
https://nmsbank.com/
Location: Milwaukee, Wisconsin
Founded: February 12, 1971
FDIC Region: Chicago
Assets: $91 490 000

ONEUNITED BANK
https://www.oneunited.com/
In the past two years, we have financed over $100 million inloans – most in low to moderate income communities such as South Central, Compton, Liberty City and Roxbury. However, we never participated in subprime lending. We have always experienced low loan losses.
Our growth has been through acquiring community banks across the country that are equally dedicated to our mission including – Founders National Bank of Los Angeles, Family Savings Bank in Los Angeles, California, Boston Bank of Commerce in Boston,Massachusetts and People’s National Bank of Commerce in Miami, Florida.

Founded: August 02, 1982
FDIC Region: New York
Assets: $590 624 000

SEAWAY BANK & TRUST COMPANY
http://www.seawaybank.us/
Location: Chicago, Illinois
Founded: January 02, 1965
FDIC Region: Chicago
Assets: $573 168 000

UNITED BANK OF PHILADELPHIA
http://www.ubphila.com/
Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $67 930 000

UNITY NB OF HOUSTON
http://www.unitybanktexas.com/
Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $68 125 000
Source: FDIC

TriState Bank of Memphis Tenessee
http://www.tristatebank.com/

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